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Research Update: BBVA Bancomer S.A. Ratings Affirmed; Outlook Revised To Positive Jul 07 Product Image

Research Update: BBVA Bancomer S.A. Ratings Affirmed; Outlook Revised To Positive Jul 07

  • Published: July 2007
  • Standard & Poors

FEATURED COMPANIES

Abstract
On July 3, 2007, Standard & Poor's Ratings Services changed its outlook on BBVA Bancomer S.A. to positive from stable. The 'BBB+/A-2' counterparty credit and CD ratings were affirmed. The 'BBB-' rating on the $500 million variable rate nonpreferred subordinated notes was also affirmed. Our ratings on BBVA Bancomer reflect improved stand-alone creditworthiness, notably its good liquidity, low exposure to foreign exchange, strong market position, and improved financial performance. The ratings on BBVA Bancomer are constrained by banking industry country risks related to the Mexican operating environment (sovereign ratings on the United Mexican States are FC: BBB/Positive/A-3; LC: A/Positive/A-1) as well as lending risks and the tough competitive environment in Mexican banking sector. While BBVA Bancomer is exposed to Mexican...

Companies mentioned in this report are:
- BBVA Bancomer S.A.
- Banco Bilbao Vizcaya Argentaria S.A.

Action: Affirmed
Action: Outlook: Positive

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and READ MORE >

- BBVA Bancomer S.A.
- Banco Bilbao Vizcaya Argentaria S.A.

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